Only 7 Commercial Banks Listed in Social Security Scheme

Government-owned banks yet to join the scheme

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Only 7 Commercial Banks Listed in Social Security Scheme

October 18: Out of the 28 commercial banks of Nepal, only seven registered themselves with the government’s Social Security Scheme. The deadline for listing the companies of the private sector in the ambitious scheme expired on Thursday, October 18.

So far, only Janata Bank, Prabhu Bank, Laxmi Bank, Prime Commercial Bank, Mega Bank, Nepal Credit and Commerce Bank, and Global IME Bank have listed themselves with the government scheme.

Most of the commercial banks are still undecided about joining the scheme due to ambiguous policy of the scheme.

The last meeting of Nepal Bankers Association had held extensive discussions on this issue. During the meeting, most of the commercial banks had voiced their concern regarding unclear policies for the welfare of the employees. They said that they would join the scheme only after the government forms clear policy in this regard.

Even government owned Agriculture Development Bank, Rastriya Banijya Bank and Central Bank are yet to be listed in the Social Security Scheme.

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